MAS approves FT's SMX ops
The Monetary Authority of Singapore (MAS) has granted Financial Technologies Group’s Singapore Mercantile Exchange (SMX) the final approval to operate as an international commodity and currency derivatives exchange.
SMX is a wholly-owned subsidiary of Financial Technologies Group. It will trade four products including gold futures contract with physical delivery, West Texas Intermediate (WTI) Crude Oil, Brent-Euro Crude Oil and Euro-US Dollar Futures Contracts.
SMX recently concluded market-wide testing of its electronic trading platform, risk management and clearing & settlement systems.